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2 ASHLEY GOLD MINES LIMITED Q2339 Magnetometer Survey C Jason Ploeger, P.Geo. March 28, 2017

3 Abstract CXS was contracted by Ashley Gold Mines Ltd to perform a small 1 day magnetometer survey over its Nicol Township Property. ASHLEY GOLD MINES LIMITED Q2339 Magnetometer Survey C Jason Ploeger, P.Geo. March 28, 2017

4 TABLE OF CONTENTS 1. SURVEY DETAILS PROJECT NAME CLIENT LOCATION ACCESS SURVEY GRID SURVEY WORK UNDRTAKEN SURVEY LOG PERSONNEL SURVEY SPECIFICATIONS OVERVIEW OF SURVEY RESULTS SUMMARY... 6 LIST OF APPENDICES APPENDIX A: STATEMENT OF QUALIFICATIONS APPENDIX B: THEORETICAL BASIS AND SURVEY PROCEDURES APPENDIX C: INSTRUMENT SPECIFICATIONS APPENDIX D: LIST OF MAPS (IN MAP POCKET) LIST OF TABLES AND FIGURES Figure 1: Location of the... 3 Figure 2: Claim Map with the Nicol Traverses... 4 Figure 4: Magnetometer Plan on Google Earth... 6 Table 1: Survey Log... 5 Page ii

5 1. SURVEY DETAILS 1.1 PROJECT NAME This project is known as the. 1.2 CLIENT Ashley Gold Mines Limited Government Rd. Larder Lake, Ontario P0K1L0 1.3 LOCATION The is located in Nicol Township approximately 3 km east of Gowganda, Ontario. The survey area covers mining claim and within the Larder Lake Mining Division. Figure 1: Location of the

6 1.1 ACCESS Access to the property was attained with a 4x4 truck via highway 560. straddles highway 560, 3.5 kilometers east of Gowganda, Ontario. 1.2 SURVEY GRID The traversed lines were established using a GPS in conjunction with the execution of the survey. The GPS operator would establish sample locations while remaining approximately 25m in front of the magnetometer operator. GPS waypoints, magnetic samples were taken every 25m along these controlled traverses. The GPS used was a Garmin GPSMAP 62s with an external antenna for added accuracy. Figure 2: Claim Map with the Nicol Traverses

7 2. SURVEY WORK UNDRTAKEN 2.1 SURVEY LOG Min Extent Max Extent Total Survey (m) Date Description Line March 13, 2017 Locate survey area and conduct survey. 300E 0 875N E 0 925N 925 0N 300E 400E 100 Table 1: Survey Log 2.2 PERSONNEL Claudia Moraga of Britt, Ontario conducted all the magnetic data collection while Bill Bonney of Kirkland Lake, Ontario was responsible for the GPS control and GPS waypoint collection. 2.3 SURVEY SPECIFICATIONS The survey was conducted with a GSM-19 v7 Overhauser magnetometer with a second GSM-19 magnetometer in base station mode for diurnal correction. A total of 1.9 line kilometers of magnetometer was read over the on March 13, This consisted of 152 magnetometer samples taken at a 12.5m sample interval.

8 3. OVERVIEW OF SURVEY RESULTS 3.1 SUMMARY Figure 3: Magnetometer Plan on Google Earth A strong magnetic variation occurs over the survey area. The intense variations between the north and the south parts of the survey area indicate the presence of two distinct underlying geological units. The north half of the survey area exhibits strong variations in the magnetic signature. These variations indicate similar variations to a mafic to ultramafic volcanic or iron formation. Within this magnetically elevated region appears a magnetically depleted region. This may indicate the presence of an alteration corridor and showed be further explored through prospecting.

9 APPENDIX A STATEMENT OF QUALIFICATIONS I, C. Jason Ploeger, hereby declare that: 1. I am a professional geophysicist with residence in Larder Lake, Ontario and am presently employed as a Geophysicist and Geophysical Manager of Canadian Exploration Services Inc. of Larder Lake, Ontario. 2. I am a Practicing Member of the Association of Professional Geoscientists, with membership number I graduated with a Bachelor of Science degree in geophysics from the University of Western Ontario, in London Ontario, in I have practiced my profession continuously since graduation in Africa, Bulgaria, Canada, Mexico and Mongolia. 5. I am a member of the Ontario Prospectors Association, a Director of the Northern Prospectors Association and a member of the Society of Exploration Geophysicists. 6. I do not have nor expect an interest in the properties and securities of Ashley Gold Mines Limited. 7. I am responsible for the final processing and validation of the survey results and the compilation of the presentation of this report. The statements made in this report represent my professional opinion based on my consideration of the information available to me at the time of writing this report. C. Jason Ploeger, P.Geo., B.Sc. Geophysical Manager Canadian Exploration Services Inc. Larder Lake, ON March 28 th, 2017

10 APPENDIX B THEORETICAL BASIS AND SURVEY PROCEDURES TOTAL FIELD MAGNETIC SURVEY Base station corrected Total Field Magnetic surveying is conducted using at least two synchronized magnetometers of identical type. One magnetometer unit is set in a fixed position in a region of stable geomagnetic gradient, and away from possible cultural effects (i.e. moving vehicles) to monitor and correct for daily diurnal drift. This magnetometer, given the term base station, stores the time, date and total field measurement at fixed time intervals over the survey day. The second, remote mobile unit stores the coordinates, time, date, and the total field measurements simultaneously. The procedure consists of taking total magnetic measurements of the Earth s field at stations, along individual profiles, including Tie and Base lines. A 2 meter staff is used to mount the sensor, in order to optimally minimize localized near-surface geologic noise. At the end of a survey day, the mobile and base-station units are linked, via RS-232 ports, for diurnal drift and other magnetic activity (ionospheric and sferic) corrections using internal software. For the gradiometer application, two identical sensors are mounted vertically at the ends of a rigid fiberglass tube. The centers of the coils are spaced a fixed distance apart (0.5 to 1.0m). The two coils are then read simultaneously, which alleviates the need to correct the gradient readings for diurnal variations, to measure the gradient of the total magnetic field.

11 APPENDIX C GSM 19 Specifications Overhauser Performance Resolution: 0.01 nt Relative Sensitivity: 0.02 nt Absolute Accuracy: 0.2nT Range: 20,000 to 120,000 nt Gradient Tolerance: Over 10,000nT/m Operating Temperature: -40 C to +60 C Operation Modes Manual: Coordinates, time, date and reading stored automatically at min. 3 second interval. Base Station: Time, date and reading stored at 3 to 60 second intervals. Walking Mag: Time, date and reading stored at coordinates of fiducial. Remote Control: Optional remote control using RS-232 interface. Input/Output: RS-232 or analog (optional) output using 6-pin weatherproof connector. Operating Parameters Power Consumption: Only 2Ws per reading. Operates continuously for 45 hours on standby. Power Source: 12V 2.6Ah sealed lead acid battery standard, other batteries available Operating Temperature: -50 C to +60 C Storage Capacity Manual Operation: 29,000 readings standard, with up to 116,000 optional. With 3 VLF stations: 12,000 standard and up to 48,000 optional. Base Station: 105,000 readings standard, with up to 419,000 optional (88 hours or 14 days uninterrupted operation with 3 sec. intervals) Gradiometer: 25,000 readings standard, with up to 100,000 optional. With 3 VLF stations: 12,000, with up to 45,000 optional.

12 Omnidirectional VLF Performance Parameters: Resolution 0.5% and range to ±200% of total field. Frequency 15 to 30 khz. Measured Parameters: Vertical in-phase & out-of-phase, 2 horizontal components, total field coordinates, date, and time. Features: Up to 3 stations measured automatically, in-field data review, displays station field strength continuously, and tilt correction for up to ±10 tilts. Dimensions and Weights: 93 x 143 x 150mm and weighs only 1.0kg. Dimensions and Weights Dimensions: Console: 223 x 69 x 240mm Sensor: 170 x 71mm diameter cylinder Weight: Console: 2.1kg Sensor and Staff Assembly: 2.0kg Standard Components GSM-19 magnetometer console, harness, battery charger, shipping case, sensor with cable, staff, instruction manual, data transfer cable and software. Taking Advantage of a Quirk of Physics Overhauser effect magnetometers are essentially proton precession devices except that they produce an order-of magnitude greater sensitivity. These "supercharged" quantum magnetometers also deliver high absolute accuracy, rapid cycling (up to 5 readings / second), and exceptionally low power consumption. The Overhauser effect occurs when a special liquid (with unpaired electrons) is combined with hydrogen atoms and then exposed to secondary polarization from a radio frequency (RF) magnetic field. The unpaired electrons transfer their stronger polarization to hydrogen atoms, thereby generating a strong precession signal-- that is ideal for very high-sensitivity total field measurement. In comparison with proton precession methods, RF signal generation also keeps power consumption to an absolute minimum and reduces noise (i.e. generating RF frequencies are well out of the bandwidth of the precession signal). In addition, polarization and signal measurement can occur simultaneously - which enables faster, sequential measurements. This, in turn, facilitates advanced statistical averaging over the sampling period and/or increased cycling rates (i.e. sampling speeds).

13 The unique Overhauser unit blends physics, data quality, operational efficiency, system design and options into an instrumentation package that... exceeds proton precession and matches costlier optically pumped cesium capabilities

14 APPENDIX C GARMIN GPS MAP 62S Physical & Performance: Unit dimensions, 2.4" x 6.3" x 1.4" (6.1 x 16.0 x 3.6 cm) WxHxD: Display size, WxH: Display resolution, WxH: Display type: Weight: Battery: Battery life: Waterproof: Floats: High-sensitivity receiver: 1.43" x 2.15" (3.6 x 5.5 cm); 2.6" diag (6.6 cm) 160 x 240 pixels transflective, 65-K color TFT 9.2 oz (260.1 g) with batteries 2 AA batteries (not included); NiMH or Lithium recommended 20 hours (IPX7) no

15 Interface: Maps & Memory: Basemap: Preloaded maps: Ability to add maps: Built-in memory: Accepts data cards: high-speed USB and NMEA 0183 compatible no 1.7 GB microsd card (not included) Waypoints/favorites/locations: 2000 Routes: 200 Track log: Features & Benefits: Automatic routing (turn by turn routing on roads): Electronic compass: Touchscreen: Barometric altimeter: Camera: Geocaching-friendly: Custom maps compatible: Photo navigation (navigate to geotagged photos): Outdoor GPS games: Hunt/fish calendar: Sun and moon information: 10,000 points, 200 saved tracks (with optional mapping for detailed roads) (tilt-compensated, 3-axis) no no (paperless) no

16 Tide tables: Area calculation: Custom POIs (ability to add additional points of interest): Unit-to-unit transfer (shares data wirelessly with similar units): Picture viewer: Garmin Connect compatible (online community where you analyze, categorize and share data): Specifications obtained from

17 APPENDIX D LIST OF MAPS (IN MAP POCKET) Magnetometer Plan Map (1:2500) 1) Q2339-AGM-NICOL-Mag-Cont Claim Map with Magnetic Traverses (1:20000) 2) Q2339-AGM-NICOL-Traverses TOTAL MAPS = 2

18 LINE CUTTING ION TING INDUCED POLARIZATION HEAVY EQU PMENT PROJECT MANAGEMENT DEEP IP MENT ON PROSPECT GEOPHYSICS MAX-MIN CHANNEL SAMP MAG/VLF TECHNICAL SERVICES VISION G/VLF LINECUTTIN GEOCHEMICAL REPOR TRENCHING GEOPHYSICAL SURVE CLAIM STAKING ATER SAMPLING AD MAINTENAN MMI DGPS AD M SOIL SAMPL FIELD CORE SHACK IN ROAD MAINTEN MOND DRILLING CO

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